Worksheet on Compound Interest when Interest is Compounded Half-Yearly

Practice the questions given in the worksheet on compound interest when interest is compounded half-yearly.


When the interest is compounded half-yearly (two times is a year) the,

A = P(1 + \(\frac{r}{2 × 100}\))\(^{n × 2}\)

i.e., the rate percent is divided by 2 and the number of years is multiplied by 2.

1. Find the compound interest and the amount on $ 4,000 at 4% per annum for 1 year when interest is compounded half-yearly.


2. Calculate the amount when sum of $ 4,800 is invested at 8% per annum for 4 years, the compound interest being compounded half-yearly.

Do not use mathematical tables. Use the necessary information from the following:

(1.08)\(^{4}\) = 1.3605; (1.04)\(^{8}\) = 1.3686

(1.08)\(^{8}\) = 1.8509; (1.04)\(^{4}\) = 1.1699

3. Calculate the compound interest at 8% per annum, compounded half-yearly, on $ 3,000 for 1\(\frac{1}{2}\) years.

4. Find the difference between the compound interest compounded yearly and half-yearly on $ 10,000 for 18 months at 10% per annum.

5. Find the compound interest and the amount on $ 5,000 at the annual interest rate of 8% for 2 years 6 months.

6. A man invests 4 10,000 in a bank for 1 ½ years at the interest rate of 7\(\frac{1}{2}\)% per annum, compounded annually. Find the amount he will receive at the end of the period.

7. Calculate the compound interest on $ 60,000 for 1 year, at 8% per annum, compounded half-yearly.

8. In what time will a sum of $ 8,000 become $ 9,261 at the interest rate of 10% per annum if the interest is compounded six-monthly?

9. At 4% per annum, find the compound interest on a certain sum of money for 1 year, compounded six-monthly, when the simple interest on this sum of money for 2 years at the rate of interest 4% per annum is $ 450.

10. Calculate the compound interest on $ 3500 at 6% per annum for 3 years, the interest being compounded half-yearly.

Do not use mathematical tables. Use the necessary information from the following:

(1.06)\(^{3}\) = 1.191016; (1.03)\(^{3}\) = 1.092727

(1.06)\(^{6}\) = 1.418519; (1.03)\(^{6}\) = 1.194052

 

Answers for the worksheet on compound interest when interest is compounded half-yearly are given below.


Answers:


1. $ 161.60, $ 4161.60

2. $ 6,569.28

3. $ 374.60

4.$ 26.25

5. $ 1,065.28, $ 6,065.28

6. $ 11,153.13

7. $ 4896

8. 1\(\frac{1}{2}\) years.

9. $ 227.25

10. $ 679.18

 Compound Interest

Compound Interest

Compound Interest with Growing Principal

Compound Interest with Periodic Deductions

Compound Interest by Using Formula

Compound Interest when Interest is Compounded Yearly

Compound Interest when Interest is Compounded Half-Yearly

Compound Interest when Interest is Compounded Quarterly

Problems on Compound Interest

Variable Rate of Compound Interest

Difference of Compound Interest and Simple Interest

Practice Test on Compound Interest


 Compound Interest - Worksheet

Worksheet on Compound Interest

Worksheet on Compound Interest with Growing Principal

Worksheet on Compound Interest with Periodic Deductions

Worksheet on Difference of Compound Interest and Simple Interest




8th Grade Math Practice 

From Worksheet on Compound Interest when Interest is Compounded Half-Yearly to HOME PAGE




Didn't find what you were looking for? Or want to know more information about Math Only Math. Use this Google Search to find what you need.



New! Comments

Have your say about what you just read! Leave me a comment in the box below. Ask a Question or Answer a Question.

Share this page: What’s this?

Recent Articles

  1. Formation of Greatest and Smallest Numbers | Arranging the Numbers

    May 19, 24 03:36 PM

    Formation of Greatest and Smallest Numbers
    the greatest number is formed by arranging the given digits in descending order and the smallest number by arranging them in ascending order. The position of the digit at the extreme left of a number…

    Read More

  2. Formation of Numbers with the Given Digits |Making Numbers with Digits

    May 19, 24 03:19 PM

    In formation of numbers with the given digits we may say that a number is an arranged group of digits. Numbers may be formed with or without the repetition of digits.

    Read More

  3. Arranging Numbers | Ascending Order | Descending Order |Compare Digits

    May 19, 24 02:23 PM

    Arranging Numbers
    We know, while arranging numbers from the smallest number to the largest number, then the numbers are arranged in ascending order. Vice-versa while arranging numbers from the largest number to the sma…

    Read More

  4. Comparison of Numbers | Compare Numbers Rules | Examples of Comparison

    May 19, 24 01:26 PM

    Rules for Comparison of Numbers
    Rule I: We know that a number with more digits is always greater than the number with less number of digits. Rule II: When the two numbers have the same number of digits, we start comparing the digits…

    Read More

  5. Worksheets on Comparison of Numbers | Find the Greatest Number

    May 19, 24 10:42 AM

    Comparison of Two Numbers
    In worksheets on comparison of numbers students can practice the questions for fourth grade to compare numbers. This worksheet contains questions on numbers like to find the greatest number, arranging…

    Read More